Credit cards

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Twingogeekeo":32tq2ff5 said:
Right been applying and failing :(

Im after a new road bike but seeing its over £1000 i havent got the money to just go throw at it so i fought ill get another credit card out but thats not going to plan i keep getting rejected.

Says it all really :roll: :p

Why apply for credit when you can't afford it? If you want it, save up for it :p!! Credit cards are the worst way to pay for stuff if you don't have the money!!

Best bet, ask your bank for an extension of your overdraft and/or a personal loan from them. You'll end up paying faaar less interest this way and once you've paid the bike off, simply lower your overdraft to what it was.

If that fails, store credit/finance. But still I'd avoid this, as the % is crazily ass rapingly high.

I'd even ask the bank of Mummy and Daddy for an I.O.U. loan before even considering a credit card.

I do have a credit card, two actually. And I'm still paying them off (though only got a smidge left now), wish I listened to everyone and never got one, though in times of need (read below), they are handy. Just not for everyday shopping or one off luxuries!!

Only thing I pay for on finance is car insurance (so I have a credit histroy). Everything else, I pay for upfront/save up for. Though admittedly, again every month, I fill my car up once on the credit card and I make sure I pay it back in full to again boost up my ratings. I've learnt from my mistakes, never again am I using a credit card for essentials/luxuries, it has cost me too much. I'd hate to think how much I've 'wasted' on %..., *sighs*... :x :oops: :cry: :evil:

Evil thing is credit.
 
The only cards i get are intrest free ;)

To be correct i have the money in a saving account but would rather leave it in the saving account and get a intrest free and pay it off that way.

Saving up for it isnt any good as it on sale from £1500 down to £1160 as it the last one in stock and you cant get that spec and price nomore as its last of last years model.
 
Twingogeekeo":1j3ou79y said:
To be correct i have the money in a saving account but would rather leave it in the saving account and get a intrest free and pay it off that way.

With the sh*t rates of interest they're paying on savings these days, you'd be waaaaaaaaaaaaay cheaper buying it out of your savings and forget all about credit if you can.

When interest rates start going up again, then start to pay yourself back, but for now it really isn't worth it.

AND don't forget to haggle over the price of the bike - you should be able to screw an extra few quid out of them on that....
 
Graham":3pgms6q4 said:
Only thing I pay for on finance is car insurance (so I have a credit histroy). Everything else, I pay for upfront/save up for.

I am exactly the same, only finance I have is on the car. Which I've done on my last three main cars, hence my Megane now being mine outright. The cheap runabouts I've saved the money for and bought outright. I don't mind finance on a car as if you put down a healthy deposit you're always in the plus so if you had to sell, you'd not be left owing money.

The only other debt I'm ok with having is a mortgage. I just don't see a need for credit cards. You're better off just saving for what you want even if it takes you longer to get. Still have to pay for it in the long run.

Sensible and boring I know but it is true haha
 
i applied for a few when i turned 20 but got rejected for majority even if it said i had a chance of getting one and anyone over 18 could apply.

i got a email about a RBS one but not sure to apply as it goes against credit report.


just wondering does each apply leave a mark on credit report?
 
nick7":2ghbsjwp said:
just wondering does each apply leave a mark on credit report?
Yeah, for every time a search is made it affects your credit history.. if a company can see that youve had multiple searches done in a short space of time then they will think you are struggling to get credit elsewhere, so probably would reject you... Probably one every three months or so is the max i would try, but i havnt changed anything since i got my new car last month, and then before that it was way before christmas!
 
nick7":2rogy4lw said:
i applied for a few when i turned 20 but got rejected for majority even if it said i had a chance of getting one and anyone over 18 could apply.

i got a email about a RBS one but not sure to apply as it goes against credit report.


just wondering does each apply leave a mark on credit report?

It can do go on experiance and get a report but make sure to cancel before 30 days other wise you will get charged
 
yeah i had a report before christmas and canceled it.

its was decent but i had no payments out a month so probly got rejected but now i have a few things coming out.

im going to apply for this one failing it i will wait until after christmas when im 21 and get a better one with Virgin for holiday discount
 
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